New pension guidelines proposed

Guidelines designed to help plan administrators institute good governance practices
By David Brown
|Canadian HR Reporter|Last Updated: 02/27/2004

D

raft guidelines to improve pension plan governance along with an organizational self assessment were released by the Canadian Association of Pension Supervisory Authorities, last month.

The guidelines are designed to help plan administrators institute good governance practices, defined as the structure and processes for overseeing, managing and administering a pension plan to ensure fiduciary and other obligations are met. The self assessment is intended to help administrators determine how successfully their plans follow effective governance principles. Though intended to improve governance, the guidelines are voluntary and not intended to create additional obligations.